Bookkeeping

This means they will have to either find a larger vehicle and incur higher gas expenses or take a second car, which will at least double the fixed gas cost. Graphically, mixed costs can be explained as shown in Figure 6.33. For example, your water company charges you a fixed $75 charge for using up to […]

Terms, conditions, pricing, special features, and service and support options subject to change without notice. A Live Bookkeeper cannot begin cleaning up your past books until they receive the required supporting documentation, which your bookkeeper will request from you after your first meeting. Once your bookkeeper receives all the necessary documentation, they’ll typically complete your

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This means the period of time in which you performed the service or gave the customer the product is the period in which revenue is recognized. Because the balances in the temporary accounts are transferred out of their respective accounts at the end of the accounting year, each temporary account will have a zero normal

In more practical terms, retained earnings are the profits your company has earned to date, less any dividends or other distributions paid to investors. Even if you don’t have any investors, it’s a valuable tool for understanding your business. A statement of retained earnings shows changes in retained earnings over time, typically one year. Anything

The procedures and strategies they followed may also work for your business, and may in fact “be one of the keys to a more successful operation,” Seeley says. Of course, there are some things that humans will always do better than software—and for other things, you may simply need more hands-on support (e.g. taxes). For

That way, there are no surprise fees, and clients know what to expect from you. You may also consider throwing in other costs, like a fee for an initial consult, to your pricing structure. Look at the types of services you offer and compare what you currently charge to others. If a client takes advantage

In summary, inventory plays an essential role in any business operation; whether manufacturing products or reselling them. It can affect pricing strategies based upon supply availability versus customer demand patterns over time—making procurement even more critical for companies looking to maximize their return-on-investment (ROI). Working capital changes are reported under the operating profit for the

A http://kib-net.ru/210.html is a tax reduction technique under which depreciation expense is subtracted from taxable income. The amount by which depreciation shields the taxpayer from income taxes is the applicable tax rate, multiplied by the amount of depreciation. This tax shield can cause a substantial reduction in the amount of taxable income, so many organizations

To figure out how you’ll make money as a virtual bookkeeper, you’ll need to write a business plan. And it is, but you may still be asking yourself, “Well, what’s it like to run a virtual bookkeeping business? Maxim Liberty services a large number of CPAs and accounting firms and have entered into non-compete agreements